Aegon has initiated a review of its annuity business in the UK.
The decision follows recent moves by the company to focus on the drawdown and guaranteed products market.
"As part of our ongoing review of our portfolio of businesses... we have initiated a review of our annuity portfolio in the UK," an internal memo penned by Aegon chief executive Adrian Grace, seen by PP's sister magazine Professional Adviser, reads.
Aegon, which has a "long-term commitment to the UK market", according to the note, has declined to comment.
It follows speculation the product provider is set to sell off part of its UK operations.
The Dutch financial services group is thought to be in the early stages of the sales process which comes after a significant shift in the UK pensions market, according to a Sky News report.
The report said Aegon had hired investment bankers at Citi to oversee "a number of asset sales" which could generate significant proceeds.
The speculation follows earlier consolidation in the pensions market when annuity providers Just Retirement and Partnership announced merger plans earlier this summer.
Sky News also referenced an earlier warning from ratings agency Moody's which said firms such as Aegon and Scottish Widows are "vulnerable to margin pressures" because they lack a "differentiating asset management proposition".
Aegon declined to comment on the reports.
But the memo from Grace reads: "Following recent speculation in the media, I would like to confirm that Aegon has a long-term commitment to the UK market.
"We have built a market leading platform which continues to be the fastest growing platform both by percentage and in terms of asset growth.
"We have clear differentiation in our proposition "to and through" retirement and this is supported by innovative products such as Secure Retirement Income which is the only guaranteed product available on platform today. We will continue to grow our platform both organically and through acquisition."
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